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Civics Honors - Chapter 21 Flashcards | StudBud
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Civics Honors - Chapter 21
Civics Honors - Chapter 21
29 terms
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StudBud Administration
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The US and World Economies
Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
This type of government regulation might limit how you can use your property.
Criminal Laws.
Tax Laws.
Family Law.
Zoning laws.
2
What is the main reason that countries erect barriers to trade with other countries?
to make more money.
just for kicks.
to protect their own industries.
to damage the other country's industry.
3
A type of investment which puts money into start-up companies or into new products.
Venture Capital
Government Bonds
Stock Market
Gambling
4
An example of how current events can disrupt the business cycle.
Kaitlyn Jenner
COVID 19
Inflation
expansion
5
The difference between the value of a country's imports and exports.
Reciprocity
Balance of Power
Gross Domestic Product
Balance of Payments
6
When you to buy one product and not another, the value of what you do not buy is __________.
your "Opportunity Cost"
a barrier
someone else's problem
a deficit
7
Putting your money to use - with a reasonable expectation that you will make a profit.
Investing
Gambling
Borrowing
Saving
8
These are economic indicators that show up before a change in economic performance.
pre-indicators.
indicative indicators.
prevailing indicators.
leading indicators
9
The business cycle - in chronological order.
expansion-peak-contraction-trough
expansion-trough-peak-contraction
birth-growth-marriage-death
traditional-command-free-mixed
10
"Free Trade" is the ______________ of "Protectionism."
same as
synthesis
little brother
opposite
11
Which of the following is
NOT A TYPE OF TRADE BARRIER
?
Quota
Tariff
Sanction
Treaty
12
The idea that public pessimism leads to economic contraction, while optimism = expansion.
Jabberwocky
Wishful Thinking
Serendippity
Self-Fulfilling Prophecy
13
Economic indicators that tell us how the economy was doing a month or two earlier.
coincident
lagging
astrologic
leading
14
The economic rivalry between producers of similar products is called ____.
Symbiosis
Competition
Capitalism
Cross-Pollinaton
15
TRUE/FALSE?
No country in the world today has a pure Free or Market economy.
That's right, Mr. O!
I can't agree with that, Mr. O!
16
Economists study and predict the performance of the economy by examining ____.
economic indicators.
bond prices.
their belly buttons.
stock prices.
17
This
IS NOT
one of the reasons that the government regulates the economy.
To reduce how much money businesses can make.
To protect consumers.
To encourage fair competition.
To protect workers.
18
As a general rule, investments with a high potential return ________.
have a low level of risk.
should always be avoided.
are too good to be true.
have a high level of risk.
19
Money earned on an investment.
Risk
Langniappe
Revenue
Return
20
A ban on trade with another country.
embargo
sanction
blockade
surplus
21
One principle of capitalism is that consumers and producers
ALWAYS
________
act in their own self interest.
try to protect the environment.
make the right decision.
try to do what is moral and ethical.
22
The possibility that an investment might lose money.
return
breakage
bad luck
risk
23
Which of the following
IS NOT
an example of an international trade agreement?
GATT (General Agreement on Tariffs and Trade)
NAFTA (North American Free Trade Agreement)
NATO (North Atlantic Treaty Organization)
WTO (World Trade Organization)
24
Lowering tax rates generally has this impact on the economy.
Puts more money in consumers' hand and grows the economy.
Puts less money in consumers' hand and slows the economy.
Puts more money in consumers' hand and slows the economy.
Puts less money in consumers' hand and slows the economy.
25
Controlling: (1) spending; (2) taxing; and (3) public transfer payments - are tools of _____.
Monetary Policy
Fiscal Policy
the Devil.
Defense Policy
26
A tax on goods imported from another country.
sanction
tariff
deficit
embargo
27
Tax discounts given to certain industries to attract them to a state.
tax incentives
tax codes
tax policy
tax fraud
28
Which of the following
IS NOT
an example of monetary policy?
increasing tax rates
raising the discount rate
manipulating the reserve requirement
buying/selling government bonds
29
The four main types of economic systems are Traditional, Market, Command, and ________.
Dictatorship
Demand
Supply
Mixed
